PPM: Endowment Committee
BYLAWS ARTICLE XI. ENDOWMENT FUND
An Endowment Fund, whose purpose, governance, and operational procedures shall be defined by special resolution adopted by the congregation, shall be established. See Bylaws for details.
(duties listed below may not be changed except by 2/3 vote of the Fellowship)
Composition
The Endowment Committee shall consist of three members, all of whom shall be voting members of UUFSM. This Team shall be composed of the Board Vice-Chair, the Board Treasurer, and one additional person appointed by the Board Chair. The appointed member shall serve three years, while the other two members will serve terms concurrent with their terms on the Board of Trustees.
Duties
The COMMITTEE shall meet at least annually, or more frequently as deemed by it is in the best interest of the FUND. The three members of the committee shall elect a Chair, a Recording Secretary, and a Financial Secretary. The Chair shall call and preside at all meetings, and the Recording Secretary shall keep minutes for all meetings held by the Team. Copies of these minutes shall be included in the annual report to the congregation. The Financial Secretary shall prepare all checks for distributions from the FUND, but signatures from both the Chair and the Financial Secretary shall be required for any disbursement of monies. The Chairperson of the Board shall annually review the financial records of the FUND, and an annual written report by the COMMITTEE shall be provided to the congregation.
(This Report should include the current value of the Endowment fund, the amount of contributions to the fund in the past year, any increase or decrease in the fund due to market fluctuations, and the company where the fund is held, as well as what was done to encourage members to donate to the fund.)
